Yes, it seems to be leading which is why I took a position.
I don't have the same of expectaions of pullbacks when important levels are
breached on good volume, though boundary retests do occur frequenty
enough.
The same pattern appears across a number of Uranium stocks as well as the
URNM etf. Those patterns have yet to break, but if they do EL8 could move
strongly given the relative strength. Flipside, is that given the strong overall
correlation,If they fail this could land up being a bull trap.
Overall though the volume and price the last few days here are very supportive.
Not well versed enough in fundemental unique to each to pin a guess on a
reason for this divergence.
EL8 CHART, page-26
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Last
35.0¢ |
Change
-0.010(2.78%) |
Mkt cap ! $107.9M | |||
| Open | High | Low | Value | Volume |
| 35.0¢ | 35.5¢ | 34.0¢ | $176.5K | 506.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2050 | 35.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.5¢ | 48758 | 2 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| EL8 (ASX) Chart |